Link to : TASMANIAN BUY BACK SCHEME Taxi Industry Act 1995 (No. 27 of 1995)
PART 4 PERPETUAL TAXI UCENCES
Issue of perpetual taxi licences 19-(1) The Commission may, in accordance with this section, issue perpetual taxi licences for each taxi area. (2) The Commission must, within 7 days after the application date- (a) determine an amount which in its opinion a willing buyer would pay to a willing seller in a normal commercial transaction for a l’erpetual taxi licence for the relevant taxi area and gIVe such notice to the public as it thinks fit of that amount; and 1995 Taxi Industry No. 27 (b) determine the number of perpetual taxi licences that may be issued in each year for that taxi area while the market price determined under paragraph (a) is less than the capped valueand, in making a determination, the Commission must take into account any advice given by the Board. (3) In issuing perpetual taxi licences- (a) the Commission must ensure that, where the market price for perpetual taxi licences is less than the capped value, the number of licences issued in a period of 12 months does not exceed the number of licences determined under subsection (2) (b); and (b) if the market price exceeds the capped value, the Commission may issue licences without limit at the capped value